Saud Alsaab

Full Profile

Saud is a Saudi qualified lawyer, based in Riyadh Office. He has over 16 years’ experience specialising in insurance and litigation. Saud combines his experience with legal knowledge and skills to provide the best outcome for clients.

His insurance experience includes advising and defending insurers and reinsurers on a wide range of complex policy issues and litigated coverage disputes, including: property and business interruption losses; financial lines; trade credit; D&O liability; energy; shipping and marine insurance. He also regularly advises clients on SAMA's insurance regulations and laws in KSA.

Saud has an LLM degree from the University of Southampton in Corporate and Commercial Law. Saud is certified by SAMA in Compliance, Corporate Governance and Anti-Money Laundering in addition to being a Lecturer in Law at the Institute of Finance in Saudi Arabia. Saud is the co-author of the International Comparative Legal Guide to: Insurance & Reinsurance 2018 Saudi Arabia.

Prior to joining Clyde & Co, Saud was a Senior Legal Specialist at Saudi Arabian Monetary Agency (SAMA) in charge of litigation and pleadings unit.

Experience

• Advising an insurance company on property and business interruption damages in the amount of SAR 189 million.
• Advising foreign reinsurers in liability coverage in the amount of USD $75 million.
• Advising charteres in  London arbitration claim brought by ship owners following an incident occurred in KSA.
• Advising trade credit insurers following default of various claims in the amount of SAR 22.5 million.
• Advising reinsurers and cedents on policy coverage and liability following collision to an offshore oil rig.
• Advising London and European reinsurers on disputed policy coverage for $240m business interruption claims following a "pot freeze" of aluminum smelter in Saudi Arabia.
• Advising and acting for a Saudi cedant and its reinsurers on the defense of a SAR 70 million claim under a property insurance policy before SAMA Insurance Dispute Committees.
• Regularly Advises insures on SAMA's regulations and requirements. 
•  Advising the Insurance Committees on several insurance and reinsurance disputes.
• Contributed in setting up the Insurance Dispute Committees, from reviewing and drafting all rules until the implementation stage.
• Representing SAMA and the Insurance Committees in KSA in major insurance and reinsurance disputes before The Board of Grievances.
• Contributed in setting up the guideline and framework of the Insurance Dispute Committees and its Appeal Committee in KSA.